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Wolverine World Wide +4% after FQ2 update

Jun. 03, 2020 4:42 PM ETWolverine World Wide, Inc. (WWW) StockWWWBy: Clark Schultz, SA News Editor2 Comments
  • Wolverine World Wide (NYSE:WWW) provides a business update ahead of investor meetings taking place during the Baird 2020 Global Consumer, Technology, and Services Conference tomorrow.
  • The company says its work to proactively maximize its strong e-commerce platform and implement cash generation initiatives is anticipated to result in more than $20M of operating cash flow in the quarter to significantly top its expectations entering the quarter.
  • Through the first nine weeks of FQ2, owned e-commerce grew more than 90% Y/Y. Performance brands Merrell and Saucony as well as work brands Wolverine and Cat Footwear led the performance with strong triple-digit eCommerce growth.
  • Owned retail stores have started to reopen, and WWW plans to open approximately 70 of its more than 90 stores by mid-June.
  • WWW +4.34% after-hours to $24.50.
  • Source: Press Release

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